Thompson Investment Management Inc. Raises Stake in Starbucks Co. (NASDAQ:SBUX)

Thompson Investment Management Inc. boosted its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 25.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,860 shares of the coffee company’s stock after buying an additional 9,878 shares during the quarter. Thompson Investment Management Inc.’s holdings in Starbucks were worth $4,465,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Orca Investment Management LLC grew its position in shares of Starbucks by 6.6% in the fourth quarter. Orca Investment Management LLC now owns 7,494 shares of the coffee company’s stock valued at $719,000 after purchasing an additional 466 shares during the last quarter. Cerity Partners LLC raised its stake in Starbucks by 481.9% in the 4th quarter. Cerity Partners LLC now owns 1,547,411 shares of the coffee company’s stock valued at $148,567,000 after purchasing an additional 1,281,471 shares during the last quarter. Cox Capital Mgt LLC boosted its stake in shares of Starbucks by 41.9% during the 1st quarter. Cox Capital Mgt LLC now owns 45,322 shares of the coffee company’s stock worth $4,142,000 after purchasing an additional 13,372 shares during the last quarter. Summa Corp. purchased a new position in shares of Starbucks during the fourth quarter valued at approximately $384,000. Finally, Brevan Howard Capital Management LP purchased a new position in shares of Starbucks during the 4th quarter worth $2,781,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Oppenheimer reiterated a “market perform” rating on shares of Starbucks in a research note on Friday, April 19th. Piper Sandler reduced their price objective on Starbucks from $88.00 to $85.00 and set a “neutral” rating for the company in a research report on Monday, May 6th. UBS Group reduced their price objective on shares of Starbucks from $95.00 to $85.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. Morgan Stanley cut their price target on Starbucks from $120.00 to $115.00 and set an “overweight” rating for the company in a report on Friday, April 12th. Finally, The Goldman Sachs Group started coverage on shares of Starbucks in a research report on Thursday, June 13th. They issued a “buy” rating and a $100.00 price objective for the company. Seventeen analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Starbucks currently has a consensus rating of “Hold” and an average price target of $95.00.

Starbucks Trading Down 0.5 %

SBUX stock traded down $0.43 during midday trading on Wednesday, hitting $78.85. The company had a trading volume of 4,488,373 shares, compared to its average volume of 10,376,136. Starbucks Co. has a 52 week low of $71.80 and a 52 week high of $107.66. The stock’s 50 day moving average price is $80.16 and its 200 day moving average price is $88.36. The stock has a market cap of $89.31 billion, a price-to-earnings ratio of 21.68, a PEG ratio of 1.73 and a beta of 0.96.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). The business had revenue of $8.56 billion for the quarter, compared to analysts’ expectations of $9.12 billion. Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.74 EPS. Analysts predict that Starbucks Co. will post 3.59 earnings per share for the current year.

Starbucks Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.89%. The ex-dividend date of this dividend is Friday, August 16th. Starbucks’s dividend payout ratio is 62.81%.

Insider Buying and Selling

In related news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction on Friday, June 14th. The stock was sold at an average price of $80.00, for a total transaction of $260,000.00. Following the sale, the chief executive officer now owns 78,304 shares in the company, valued at approximately $6,264,320. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $80.00, for a total transaction of $260,000.00. Following the transaction, the chief executive officer now directly owns 78,304 shares of the company’s stock, valued at $6,264,320. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Rachel Ruggeri sold 3,750 shares of Starbucks stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total value of $300,000.00. Following the sale, the chief financial officer now directly owns 65,431 shares of the company’s stock, valued at approximately $5,234,480. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,750 shares of company stock worth $878,893. Corporate insiders own 1.98% of the company’s stock.

About Starbucks

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.